The Application Processing Module supports the process that starts when a borrower applies for a new loan and the MFI activates the performing of complete analysis of the credit worthiness of the borrower, tracking all necessary data, documentation, following MFI’s workflow steps up to loan approval.
The Application Processing Module enables automatic loading of contact data from Contact Registry and product parameters from Product Registry.
The Product Policy is manageable completely from user side and allows highly flexible definition of products which is best demonstrated with custom definition of product limitations, lending ranges, product availability based on the type of borrower, Loan Officer, disbursement funds and many more, giving the leverage to formulate unique loan propositions.
Product conditions can be specified for additional manual modification directly on application level that allows further adaptation of the repayment plan based on borrower’s repayment possibilities.
Borrower’s creditworthiness is automatically calculated with the use of the Dynamic Data Collector (DDC) incorporating automation of diverse calculations, per industry rules and client work operations for most accurate analysis.
Mechanisms to secure borrowers creditworthiness (for e.g. mortgages, guarantors and collaterals) can be predefined to pass through validation controls based on client business needs (for e.g. validation of mandatory number of guarantees, acceptable exposure rate of the entity, controlling procedures for black list borrowers, endorsers, guarantors, etc.). All entered entities can be tracked in a two-way relation, weather as a borrower, guarantor, household member, legal entity members, etc. with automatic validation controls.
The workflow is flexibly defined based on client business needs, allowing specification of mandatory documentation and data to be gathered per workflow status, with possibility of status changes forward as well as backward, allowing repeated analysis of borrower’s creditworthiness.
Loan Application Approval is an adaptable process, manageable from user side with flexible definition of approval schema, including approval levels and parameters, which allow different organizational structures on different hierarchical levels to appropriately check borrower’s creditworthiness.
Single point data gatheringOptimize the time engaged in generating loan applications and serve more borrowers, by automating the application processing, cutting unnecessary steps and gathering the minimum amount of borrower’s data needed.
Flexible Workflow Definition Streamline the loan application approval process by unifying parameters for analysis per borrower types, product types or requested loan amount, integrating four-eye control principle and applying flexible approval process, assuring that only borrowers which fulfil all your conditions pass through.
Flexible Product Policy Be able to define new products quickly and simply, without additional costs or additional employee trainings and keep the control over your Product Policy with flexible adaptation of product parameters from user side, including activation periods, 4-eye validation controls, employee privileges to use the products and product purpose.
Automated guarantors and collaterals evaluation Minimize loan risks by assessing the right value of loan guarantors and collaterals in one automated workflow that assures the parameters you are using for evaluation based on your specific business requirements.